HDFC Bank Limited and certain executives face a securities class action alleging they failed to disclose an arrangement involving roughly Rs 45 crore in payments to the Maharashtra State Road Development Corporation. The lawsuit alleges HDFC Bank disguised the payments as marketing expenditures and sponsorship of a road-safety initiative while offering MSRDC a 6.01% deposit rate, 2.51 percentage points above the rate paid to other depositors. The allegations followed a May 27, 2026, report by The Indian Express that said an internal investigation identified more than 10 senior officials, including CEO Sashidhar Jagdishan, as responsible for the scheme. HDFC shares fell $1.02, or 4.1%, to $23.78 on unusually heavy volume that day. Rosen Law Firm said investors who purchased HDFC securities during the July 17, 2023, to May 26, 2026, class period have until Oct. 13, 2026, to file a lead plaintiff motion. No class has been certified, and investors may retain counsel, remain absent class members or seek information from Rosen Law Firm.